The pubs and clubs sector experienced a glass-half-full moment to contrast with another glass-half-empty story today as the bar and restaurant group Mitchells & Butlers reported soaring demand for food, while the nightclub operator Luminar suffered another slide in sales.

Luminar, whose founder and former chief executive, Stephen Thomas, left in February following three profit warnings, said sales at its 76 clubs were down 20.2% in the 26 weeks to 26 August, with admission revenue down 26.5% and customer numbers slipping 19.1%.

The company, which analysts believe is close to breaching its banking covenants, also felt the need to reassure investors by stating that it "continues to trade within the terms of its banking facilities". The group will report its interim results next month, but the market delivered an early verdict by cutting the share price by 13% to 13.5p. The shares have lost almost 99% of their value in the past three years.

In contrast, M&B boosted late summer food sales after a marketing blitz persuaded customers to eat more at its chains, which include Harvester and Toby Carvery. In the nine weeks to 18 September, food sales jumped 7%, while income from drinks advanced by just 1.3%, justifying the focus on food and snacks.

Paul Hickman, leisure analyst at the brokers KBC Peel Hunt, said: "[Earlier this year] Mitchells & Butlers confirmed what their strategy was to be: disposal and acquisition. They look to have completed most of the disposals and now have started the acquisition plan. Luminar is at an earlier stage, to put it politely."

Since the former private equity boss John Lovering took charge at M&B after a boardroom coup, the company has sold assets worth more than £500m including 330 pubs and Hollywood Bowl. This month, it made a small bolt-on purchase by acquiring 22 Ha Ha Bar & Grill sites in a £20m deal and speculation is swirling that the firm could make a move for part of the managed estate of Punch Taverns.

The group is expected to report hugely improved financial results this year after a botched hedging deal cost it £500m over the past two years. Some analysts cautioned that an expected slowdown in consumer spending could stunt M&B's growth, but the chief executive, Adam Fowle, argued: "I think we can maintain growth ... we don't think things are going to get anywhere near as bad as 2008-09. Consumers are telling us they feel alright." M&B shares added 5.3p to 300p.